The trade turnover between Uzbekistan and the UK reached $352mn by the end of 2024, according to the Ministry of Investment, Industry, and Trade. Additionally, British investments in Uzbekistan surpassed $1bn in 2024, reflecting the growing economic partnership between the two nations.
Recently, Uzbekistan’s Minister of Investment, Industry, and Trade Laziz Kudratov met with British Ambassador Timothy Smart to discuss expanding trade and investment cooperation. The meeting focused on enhancing export opportunities, attracting British investors, and coordinating key events for 2025.
Currently, 260 British-funded enterprises operate in Uzbekistan across industries such as agriculture, mining, pharmaceuticals, textiles, and chemicals.
Both sides discussed strategies to increase the export of Uzbek products to the UK by leveraging the benefits of the Developing Countries Trading Scheme. Plans were also outlined to organize seminars and workshops to support businesses in navigating trade regulations and market entry.
To further strengthen economic ties, the British delegation proposed new trade mechanisms through the Uzbek-British Intergovernmental Commission on Trade and Economic Cooperation. Both parties also explored financing opportunities for joint projects and trade contracts through UK Export Finance (UKEF).
